Contract Signed to Buy New-Building Suezmax Tanker of About 157,000 dwt
GE Shipping has contracted to buy a new-building Suezmax Tanker of about 157,000 dwt, to be built in the Far East.
- New Suezmax Tanker Size
- about 157,000 dwt
- Delivery Timeline
- second half of FY 2028-29
- Funding Source
- internal accruals
- Current Owned Fleet
- 40 vessels, 3.24 mn dwt
- Fleet Utilisation
- close to 100%
What was announced
GE Shipping has entered into a contract on 28th September 2026 for acquisition of a new-building Suezmax Tanker of about 157,000 dwt, to be constructed in the Far East by one of the world's leading shipbuilders.
- Delivery scheduled in the second half of FY 2028-29
- Proposed to be financed from internal accruals
- Purpose: expansion of the fleet
Current fleet
- Owned fleet of 40 vessels aggregating 3.24 mn dwt
- 25 Tankers: 5 Crude Tankers, 16 Product Tankers, 4 LPG Carriers
- 15 Dry Bulk Carriers: 2 Capesize, 10 Kamsarmax, 1 Ultramax, 2 Supramax
- Current capacity utilisation close to 100%
Other pending additions
The company has also contracted to buy two secondhand Kamsarmax Dry Bulk Carriers, with those transactions expected to be completed in Q3 FY27.
How investors may read it
This is a fleet-growth step rather than an immediate earnings event, since the tanker joins the fleet only in the second half of FY 2028-29. Funding from internal accruals means the company intends to use its own cash rather than fresh borrowing. The near-full capacity utilisation and the two Kamsarmax additions indicate continuing expansion of the owned fleet.
Also from Great Eastern Shipping Company
Head (HR & Admin) change: Sailil Raghavan retires, Savitha Krishnamoorthy appointed
4 Oct 2026
Wholly owned subsidiary receives 8 MVAT review notices for FY 2013-14 to June 2017
29 Sep 2026
More numbers
- Suezmax Tanker size157,000 dwt
- Owned fleet40 vessels
- Tankers in fleet25 Tankers
- Dry Bulk Carriers in fleet15 Dry Bulk Carriers
- Fleet aggregate tonnage3.24 mn dwt
- Capacity utilisationclose to 100%
- Secondhand Kamsarmax carriers contractedtwo
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